GH Research (NASDAQ:GHRS) Trading Down 10.4% – Time to Sell?

GH Research PLC (NASDAQ:GHRS)’s share price fell 10.4% during trading on Friday . The stock traded as low as $12.57 and last traded at $12.55. 272,770 shares were traded during mid-day trading, a decline of 60% from the average session volume of 683,757 shares. The stock had previously closed at $14.00.

Analyst Upgrades and Downgrades

Several brokerages have commented on GHRS. Canaccord Genuity Group dropped their price target on shares of GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of GH Research in a research report on Monday, January 27th. Finally, Cantor Fitzgerald assumed coverage on GH Research in a report on Thursday, February 13th. They set an “overweight” rating and a $14.00 price objective on the stock.

GH Research Trading Down 10.7 %

The company has a fifty day simple moving average of $10.16 and a 200-day simple moving average of $9.16. The stock has a market cap of $650.64 million, a price-to-earnings ratio of -15.83 and a beta of 0.93.

Hedge Funds Weigh In On GH Research

Institutional investors and hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. grew its stake in GH Research by 1.3% during the 3rd quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock valued at $44,734,000 after acquiring an additional 85,000 shares in the last quarter. Millennium Management LLC purchased a new position in GH Research during the 4th quarter valued at about $145,000. Two Sigma Investments LP purchased a new position in GH Research during the 4th quarter valued at about $117,000. BNP Paribas Financial Markets purchased a new position in GH Research during the 4th quarter valued at about $44,000. Finally, Northern Trust Corp grew its stake in GH Research by 26.8% during the 4th quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after acquiring an additional 8,641 shares in the last quarter. Hedge funds and other institutional investors own 56.90% of the company’s stock.

About GH Research

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).